Michael Meurs, CFO of Dutch retail giant Ahold, has revealed that the company’s operations in Asia will reach the black by the end of 2002.
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The 100-strong grocery chain in Asia has so far proved disappointing for Ahold, and CEO Cees van der Hoeven has separately told shareholders: “Our activities in Asia are still modest in scope, but we are consolidating our position there. These markets have enormous growth potential in the long term.” The group’s operations in Poland are also likely to continue making losses through this year.
The news was announced at the Deutsche Bank Global Food Retail Conference last week.
